Saudi Arabia Fire Safety Market Reached $577 million in 2015

Saudi Arabia has remained one of the promising hearth security markets in complete GCC area. In previous few years, the market has enjoyed strong progress owing to rising construction market within the areas similar to residential, retail, hospitality, public infrastructure, healthcare, and education. Also, with เกจวัดความดันแก๊ส and emergence of high rise buildings the necessity for superior fire security systems have surged within the nation.
The newly constructed buildings or ongoing building could be outfitted with advanced fire security techniques, nevertheless, immense opportunities exist for the gamers in retrofit buildings segment which have traditional fireplace safety methods.
In the 12 months 2015, the marketplace for hearth security techniques in Saudi Arabia declined as a end result of slumping oil costs, which affected infrastructure/real estate spending and construction actions. Moreover, most of the upcoming initiatives were placed on hold by the federal government to minimize back the burden on the Saudi Arabia’s economy.
According to 6Wresearch, Saudi Arabia’s fire safety market touched $577 million in 2015. The hearth security market in Saudi Arabia is predicted to stay risky until 2017, the place development could be recorded publish 2017 with the restoration of the oil prices coupled with authorities spending.
Unlike Saudi Arabia, UAE, the second largest fire safety market in GCC region registered optimistic growth due to growing building activities for the upcoming Dubai World Expo 2020. The occasion is likely to entice 25 million vacationers, which is spurring the development within the areas of hospitality, public infrastructure, retail, entertainment, etc. Also, authorities mandates are additional fueling the growth of the market in UAE.
In total Saudi Arabia’s hearth security market, fireplace protection methods have generated majority of the market revenues, wherein fireplace extinguishers, fire suppression systems and fireplace pumps & controllers have led the market development.
Over the subsequent six years, Saudi Arabia’s fire safety market would be pushed by the federal government obligatory laws and replacement of existing fire security systems. Residential and industrial verticals could be the necessary thing verticals where major substitute markets exists.
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